Good news (gospel) saves Baptist savers

Rocky notes the Shiloh of Alexandria Federal Credit Union currently offers a 5.05% APY 1-year CD.

How can they offer such a high rate? Probably because they have no full-time employees, and they’re only open on Saturdays and Sundays from 9:30 to noon.

Additionally, to join this credit union, you must be a member of the Shiloh Baptist Church of Alexandria, Virginia.  The credit union does have NCUA deposit insurance (which is equivalent to the FDIC.) See: http://www.shilohfcu.com/savings.html

Since Rocky neither lives in Alexandria, nor is a Baptist, he cannot take advantage of this fabulous deal.

[Disclosure: Rocky avoids engaging in Faustian bargains. However, he acknowledges that high interest rates are an  innovative approach to increase church attendance!]